Anixa Biosciences says COVID-19 therapy candidate similar to remdesivir; shares rise

EcoVive Co

14/12/2020 15:44

** Biotechnology co's  ANIX.O  shares rise 3.8% to $3.11
    ** ANIX and partner OntoChem GmbH verified that their lead
compound is similar in potency to Gilead Sciences Inc's  GILD.O 
COVID-19 antiviral drug remdesivir  urn:newsml:reuters.com:*:nPnccbFwba
    ** Anixa says just as remdesivir interferes with SARS-CoV-2
enzyme RNA-Polymerase, its compound interferes with another
enzyme, NSP-15, which is needed by the virus to process its
genetic code
    ** Says comparison of potency with remdesivir was conducted
in a human cell line by measuring IC50, a standard measure of
drug amount needed to inhibit replication of the virus by 50%
    ** Co plans to test potency of compound in an animal study
in next few months
    ** Co had earlier identified multiple compounds that could
disrupt the function of the NSP-15 enzyme
    ** Up to Friday's close, stock had fallen 8.8% YTD

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))